ON WALL STREET

Dow closes more than 100 points higher

Stocks shrug off hangover from report of Comey memo

(CNBC) U.S. equities traded higher on Friday as concerns about Donald Trump’s presidency recede for the time being.

The Dow Jones industrial average rose 121 points, with Boeing and Caterpillar contributing the most gains.

The S&P 500 gained 0.6 percent, with industrials leading advancers, as shares of Deere rose more than 7 percent after posting quarterly results that easily beat expectations.

The Nasdaq rose 0.46 percent.

“With the special prosecutor, … this gives the administration the opportunity to defer questions about the investigation. That’s why we’re seeing a bit of a relief rally,” said James Smigiel, managing director at SEI.